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Dow Jones to Test 200-day Moving Average: US Indices Technical Outlook

U.S. INDICES TECHNICAL HIGHLIGHTS: S&P 500 rolling over towards old high, support. Dow Jones about to test the 200-day moving average. Dow Jones weaker, may test prior summer record high. DOW JONES TO TEST 200-DAY MOVING AVERAGE: US INDICES TECHNICAL OUTLOOK The S&P 500 is declining towards the prior record high notched in September at 4545. This will be an interesting test as there have been other times (highlighted in blue) where the market declined t

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British Pound (GBP) Outlook: GBP/USD in The Grip of Lower Highs and Lower Lows

GBP/USD PRICE, CHART, AND ANALYSIS Fed chair Jerome Powell rattled GBP/USD lower on Tuesday. A pattern of lower highs and lower lows remains in place. Keep up to date with all market-moving data releases and events by using the DailyFX Calendar Fed chair Jerome Powell’s hawkish commentary on Tuesday sent GBP/USD tumbling below 1.3200 in a matter of minutes before buyers re-entered the market and negated the selling pressure. Chair Powell said that the Fed would aba

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S&P 500 Stages Reversal, Dollar Volatility After Powell, Dow the Worrying Signal

S&P 500, NASDAQ 100, DOW, COVID AND DOLLAR TALKING POINTS: The S&P 500 has carved out an aggressive head-and-shoulders reversal pattern, but is this artificially shaped by month-end activity? Fed Chairman Powell is warning the markets that the FOMC may very well accelerate its tightening time table in two weeks. As we wade through capital flows, monetary policy speculation and growth updates; I remain concerned about the ‘signal’ from the Dow.   RISK AV

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British Pound (GBP) Price Outlook: EUR/GBP Rally May Run Out of Steam

EUR/GBP PRICE, NEWS AND ANALYSIS: EUR/GBP will likely slip back after its rally over the past few days as the Euro was boosted by concerns about the Omicron variant of Covid-19 and whether existing vaccines will be effective against it. Meanwhile, a reshuffle of the UK Labour Party’s shadow Cabinet should have little impact on GBP even though opinion polls show Labour neck-and-neck with the ruling Conservatives. EUR/GBP RALLY AT RISK AS OMICRON FEARS RECEDE The strong

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Crude Oil Prices Sink as Moderna CEO Warns on Omicron Ahead of OPEC+. Where To for WTI?

CRUDE OIL, WTI, AUD/USD, CHINA PMI, MSCI, NIKKEI 225 - TALKING POINTS: Crude oil prices tanked as risk-off sentiment resumed in Asia today. APAC equities were doing ok until a report questioned the efficacy of vaccines. OPEC+ could be a non-event on Thursday now. Will crude continue lower? WTI crude oil went toward US$ 67 a barrel in the afternoon session after the Financial Times (FT) reported the CEO of Moderna saying that vaccines are likely to struggle to protec

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Covid Worries Don’t Capsize Markets Just Yet, But Watch the Dow and US Dollar

S&P 500, NASDAQ 100, DOW, COVID AND DOLLAR TALKING POINTS The S&P 500 led ‘risk assets’ on a broad slump in sentiment this past Friday which found fundamental blame in news of the Omicron Covid variant Markets made a bid to recovery this past session, but the Dow and the DAX didn’t seem to muster the same enthusiasm as speculative favorites like the SPX and Nasdaq A full recovery in risk trends is almost assumed given seasonal conditions and post-Covid momentum, but t

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USD/ZAR Forecast: Friday’s Omicron Overshoot Sees Rand Open Higher

RAND ANALYSIS: Rand market frenzy fades as market mulls over new variant. Commodities revised lower as uncertainty emerges. Bearish harami suggests short-term USD/ZAR downside correction.   ZAR FUNDAMENTAL BACKDROP RAND IS NOW ONE OF THE WORST PERFORMING CURRENCIES AGAINST THE GREENBACK The South African rand may have been the worst affected Emerging Market (EM) currency as a result of the new COVID-19 strain known as Omicron. Inaccurate news

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South African Rand Battered as UK Restricts SA Travel Ahead of the Holiday Period

RAND (USD/ZAR) ANALYSIS: UK place SA on its red list in attempt to curb the spread of a new coronavirus variant. World Health Organization set to meet to discuss studies of the variant and assess severity. USD/ZAR perfect storm: Dollar finds safe-haven appeal, Ems on backfoot, variant detected in South Africa. NEW COVID VARIANT WITH HIGH NUMBER OF MUTATIONS HAS THE MARKET ON EDGE South African scientists announced on Thursday the detection of a new coronavirus

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European Stock Futures Sharply Lower; New Virus Strain Raises Lockdown Fears

European stock markets are expected to open sharply lower Friday on concerns a new Covid variant will prompt fresh mobility restrictions, hindering the region’s economic recovery.   At 2:05 AM ET (0705 GMT), the DAX futures contract in Germany traded 2.3% lower, CAC 40 futures in France dropped 2.6% and the FTSE 100 futures contract in the U.K. fell 2.3%. Virus cases have soared in Europe in the last month, with a number of countries introducing stricter Covid measures. But a degr

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Crude Oil Sinks as US Dollar Soars Ahead of OPEC+. Will Supply Tap Out For WTI?

CRUDE OIL, US DOLLAR, OPEC+, AUD, NZD, USD/JPY, USD/CHF - TALKING POINTS: Crude oil prices slipped as USD strengthened amid a bout of risk off. APAC equities moved lower with Japanese equities leading the way. Energy commodities maintain elevated volatility. Where to for WTI crude? Crude oil fell over 3% with the WTI futures contract trading below US$ 76.00 from a close in New York of US$ 78.39. The OPEC+ meeting this Thursday will meet to discuss levels of output.

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Dividend Adjustments 29th November 2021 - 6th December 2021

Please see the expected dividend adjustment figures for a number of our major indices for the week commencing 29th November 2021. These are projected dividends and likely to change. IG cannot be held responsible for any changes made. Dividends highlighted in red include a special dividend, therefore some or all of the amount will not be adjusted. Amount in brackets is the expected adjustment after special dividends excluded (where shown on major indices). Dividend adjustments due to be posted

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Brent Crude Latest: Coordinated SPR Release Unlikely to Affect High Oil Prices

BRENT CRUDE OIL ANALYSIS: Oil price U-turn: Oil prices trading back at the same levels before the SPR rumors and subsequent confirmation. OPEC + Response unclear ahead of the December 2nd meeting. IG Client Sentiment suggests ‘wait and see’ approach ahead of the OPEC meeting. OIL PRICE TURNAROUND: A POSSIBLE CASE OF ‘SELL THE RUMOR BUY THE FACT’? Much has been said in 2020 about a ‘V-shaped’ recovery when referring to the bounce back in the economy but it looks like

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British Pound (GBP) Price Outlook: GBP/USD Approaching Key Support Levels

GBP PRICE, NEWS AND ANALYSIS: GBP/USD continues to look weak as a strong US Dollar outperforms most other currencies. However, trendline support and the 1.33 level could at least delay further losses.   GBP/USD TO TEST SUPPORT GBP/USD has hit its lowest level since just before Christmas last year and there are few signs yet that its slide against a rampant US Dollar is over. However, there is a chance now that its decline could be halted, perhaps only briefly, by

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Crude Oil Heats Up Ahead of OPEC+ And Post FOMC Minutes. Will WTI Break Higher?

CRUDE OIL, OPEC+, US DOLLAR, FOMC, USD/JPY, EUR/USD - TALKING POINTS: WTI crude prices settle in as competing interests voice their views. US Dollar strengthens in the aftermath of data and FOMC minutes. Price action could get skittish with holiday liquidity. Can oil reignite? Crude oil steadied overnight after jawboning from both producers and consumers hit the wires. An advisory panel to OPEC+ (The Economic Commission Board) said that extra supply from va

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British Pound (GBP) Price Outlook: GBP/USD Brushes Off Government Setback

GBP PRICE, NEWS AND ANALYSIS: GBP/USD looks to be stabilizing after its losses over the past few sessions caused principally by US Dollar strength. So far, the pair has largely ignored setbacks for UK Prime Minister Boris Johnson but there’s a risk that it could suffer further if the pressures on him continue to grow.   GBP STEADIES BUT FURTHER LOSSES POSSIBLE GBP/USD looks to be stabilizing after the slide that has taken it from a recent high at 1.3518 recor

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Crude Oil Prices Up on Limp Reserves Release, PCE and FOMC Minutes Eyed

CRUDE OIL OUTLOOK: Crude oil price up as world powers underwhelm with reserves release plan. US PCE inflation, FOMC meeting minutes eyed for Fed policy outlook cues. Rebound fails to overcome past resistance, keeping focus on the downside.   Crude oil prices mounted a spirited recovery, with the WTI benchmark clocking in the largest one-day rise in two weeks. This was after the announcement of a plan by the US, China, Japan, India, the UK and South Korea to

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